Thursday, June 13, 2013

Top Ten Most Expensive Health Conditions

Top 10 Most Expensive Health Conditions

Life insurance rates are
determined by many factors including age, health, gender, and lifestyle. Life insurance
underwriters put applicants in risk classes based on the likelihood of death
before policy maturity. The higher the risk, the higher the rate class, and the
more expensive a policy will be.

These are the top 10
health conditions that are most likely to affect your life insurance rate
class:

1.)Hypertension
(High Blood Pressure)

·High blood
pressure that is not well controlled is a concern to underwriters because it
can lead to vascular complications

·The
industry takes individuals who have well-controlled and well-managed high blood
pressure into consideration and often underwrites them very favorably

2.)Type 2
Diabetes (Adult Onset)

·The potential
complications that can result from diabetes affect risk class

·Youth does not
work in favor of the Type 2 applicant. The younger a person is when they are
diagnosed, the higher the risk for a life insurance company as the person gets
older

·The important
factor in getting affordable life insurance coverage with diabetes is good
control and management

3.)Sleep Apnea or
Narcolepsy

·Severe sleep
apnea can be associated with high blood pressure and coronary artery disease

·If sleep apnea
is well controlled and well managed, applicants can still get a good
underwriter rating

4.)Heart Disease

·Heart disease
encompasses a wide range of diseases and conditions from atherosclerosis to a
prolapsed mitral valve

·Underwriters
consider family history in heart disease assessments…they look at immediate
family members- father, mother, brother, sister- who may have developed heart
disease or had a stroke

5.)Asthma

·With asthma,
underwriters are concerned about the severity of the condition and how well it
is managed

·An individual
with well-controlled asthma should be able to be favorably underwritten

6.)Cancer

·The word
“cancer” will flag any life insurance underwriter but its ultimate effect on an
applicant's rate class can vary from negligible to substantial

·Just as each
cancer is individual, every insurance company will underwrite it differently

7.)Obesity

·Centers for
Disease Control and Prevention statistics indicate that more than 1/3 of adult
Americans are overweight and another 1/3 are clinically obese

·Most carriers
have build tables to determine which weights can qualify for each rating

8.)Organ
Transplants

·Insurance
companies treat organ transplants on a case-by-case basis

·Kidney
transplants are the most common and can be insurable but liver and heart
transplants are rarely insurable

9.)Depression

·The rating for
individuals with depression depends on the degree, the severity, and how well
it is managed

10.)High
Cholesterol

·Life Insurance
companies are concerned with high cholesterol because it is a risk factor for
the development of a lot of vascular conditions, including coronary artery
disease, stroke and other atherosclerotic kinds of disease

·Underwriters
tend to treat high cholesterol like they treat high blood pressure…favorable
ratings can exist if it is controlled and well-managed

-From Bankrate.com “Top 10
Health Hazards for Life Insurers”

Tom Newsad of Newsad
Insurance Services has building relationships for over 20 years through
insurance and financial services. Newsad
Insurance Services serves Middletown, Trenton, Hamilton, Franklin, Dayton, Centerville, Oxford,
and surrounding areas. For more click on
www.newsadinsurance.com

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About Me

My name is Tom Newsad and I founded Newsad Insurance Services in 1996 in Middletown, Ohio. Newsad Insurance Services is an independent agency that represents Midland National Life, Allianz Life, Cincinnati Life, and Auto-Owners Life, among others. I specialize in life insurance, fixed investments, disability insurance, long term care, and health insurance.
My industry awards include:
3 Year Qualifying Member in the Million Dollar Round Table, 17 Year Member of the National Association of Insurance and Financial Advisors (NAIFA), Member of the $50 Million Club, 8 Year Pacesetter Qualifier with Grange Life Insurance, National Quality Award Recipient, National Sales Achievement Award Recipient.